Citra Pacific builds petrochemical plant

JP/alx

JAKARTA (JP): Citra Pacific Aromatics Indonesia shareholders formally signed yesterday articles of association for the establishment of the company, which will build and operate a petrochemical plant in Cilegon, West Java.

Hengky Ticoalu, a commissioner of the company, president Arifin Panigoro and chief commissioner Prayogo Pangestu (pictured from left to right) celebrated the company's formal establishment.

Ninety-five percent of Citra Pacific shares are owned by Indonesian businesspeople, led by Arifin and include a group representing shareholders of PT Chandra Asri, Indonesia's first olefin producer. The remaining 5 percent is owned by Germany's Krupp Uhde, a chemical and environmental engineering company.

Arifin, also chairman of the Medco group, said yesterday the project would support the country's downstream petrochemical industry.

Construction of the new plant would begin next month and be ready for operation in mid-1999, he said.

The plant will be able to produce 125,000 tons of benzene a year, 72,000 tons of toluene and 29,000 tons of xylenes.

It is to be built on a four-hectare site adjacent to the country's sole olefin facility, Chandra Asri Petrochemicals Center.

It will process pyrolyzes gasoline supplied from Chandra Asri's ethylene cracker.

Chandra Asri's annual 240,000 tons of pyrolyzes gasoline is currently exported for use as a gasoline additive or for further processing. (das)